Nigeria's Minister of Information and National Orientation, Mohammed Idris, has restated the country's commitment to deepening economic relations with France as part of broader efforts to drive investment and economic reforms under the Tinubu admini… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Nigeria seeks stronger economic ties with France to boost investment and private sector growth By Abiodun Abdullahi on April 12, 2025 Nigeria's Minister of Information and National Orientation, Mohammed Idris, has restated the country's commitment to deepening economic relations with France as part of broader efforts to drive investment and economic reforms under the Tinubu administration. Speaking at the Nigeria Business Forum in Paris, Idris highlighted Nigeria's ongoing transformation, driven by the Renewed Hope Agenda—a strategic eight-point plan aimed at unlocking economic potential and attracting long-term foreign direct investment. He described the reforms as unprecedented, positioning Nigeria as a gateway to Africa's expanding consumer market through the African Continental Free Trade Area (AfCFTA). These include efforts to make the economy more transparent, competitive, and investor-friendly.Idris pointed to key economic milestones, including a 3.84% GDP growth in Q1 2024 and over 20% increase in government revenue, along with a reduction in debt servicing burdens. He also emphasized the enabling role of strong institutions such as the Central Bank of Nigeria (CBN), Nigerian Investment Promotion Commission (NIPC), Securities and Exchange Commission (SEC), and the Federal Competition and Consumer Protection Commission (FCCPC). Read also Nigeria seeks stronger economic ties with France to boost investment and private sector growth China raises tariffs on U.S. goods, deepening global trade tensions FG sets up sub-committee to evaluate impact of US tariffs on Nigeria's economy LCCI urges stronger Nigeria–India ties to boost key sectors and economic growth Finance minister urges Africa to strengthen trade within the continent amid rising global tariffs The Minister showcased government-backed initiatives like the Renewed Hope Infrastructure Development Fund (RHIDF), the Nigerian Consumer Credit Corporation (CrediCorp), and the MOFI Real Estate Investment Fund (MREIF) as examples of how Nigeria is creating opportunities for private sector-led growth across key sectors including infrastructure, healthcare, and real estate. He also spotlighted Nigeria's demographic advantage—over 220 million people, with more than 70% under 35—as a compelling factor for investment. He encouraged French investors to explore opportunities in agribusiness, especially in livestock, where the new Ministry for Livestock Development is expected to drive sectoral growth. He cited global dairy giant Danone as a potential partner for collaboration.Additionally, Idris revealed plans for Nigerian banks to open offices in Paris and predicted greater Nigerian presence in Europe's creative, tech, and media industries. While in France, the Minister is expected to hold bilateral meetings with top French media and cultural institutions to foster deeper cooperation in the information and broadcast sectors. Key reforms underlined during his address included foreign exchange unification, fuel subsidy removal, tax reforms, trade facilitation through the National Single Window, and digital and immigration policy upgrades—all aimed at creating a business-friendly environment for local and international investors.---Would you like a shorter version for social media as well?

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China has announced a sharp increase in tariffs on U.S. goods—from 84% to 125%—in a move that further intensifies the ongoing trade conflict between the two largest economies in the world. The new tariffs, set to take effect on Saturday, come in … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader China raises tariffs on U.S. goods, deepening global trade tensions By Abiodun Abdullahi on April 12, 2025 China has announced a sharp increase in tariffs on U.S. goods—from 84% to 125%—in a move that further intensifies the ongoing trade conflict between the two largest economies in the world. The new tariffs, set to take effect on Saturday, come in response to the U.S. government's latest hike on Chinese imports, which pushed total levies to 145%. Although the U.S. recently postponed tariff increases on other countries, it doubled down on its stance against China. Beijing described the move as "economic bullying." Read also China raises tariffs on U.S. goods, deepening global trade tensions FG sets up sub-committee to evaluate impact of US tariffs on Nigeria's economy LCCI urges stronger Nigeria–India ties to boost key sectors and economic growth Finance minister urges Africa to strengthen trade within the continent amid rising global tariffs Nigeria's economy shows signs of steady recovery as March PMI hits 52.3 A spokesperson from China's Finance Ministry said the U.S. actions amount to "a farce that will go down in world economic history," and warned that China would retaliate without hesitation if its interests continue to be threatened.In a related move, China's Commerce Ministry confirmed it will file an additional legal challenge with the World Trade Organization (WTO), signaling a multilateral pushback to the escalating dispute. Analysts say the deepening trade rift could weigh heavily on global markets, potentially slowing economic growth worldwide—a scenario that could affect export-driven sectors in countries like Nigeria.

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The Federal Government has constituted a sub-committee to assess the potential economic implications of the new tariffs introduced by the United States, as concerns grow over how global trade tensions may affect Nigeria's fiscal stability. The deci… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader FG sets up sub-committee to evaluate impact of US tariffs on Nigeria's economy By sbinsights on April 12, 2025 The Federal Government has constituted a sub-committee to assess the potential economic implications of the new tariffs introduced by the United States, as concerns grow over how global trade tensions may affect Nigeria's fiscal stability. The decision was taken following a recent meeting of the Economic Management Team (EMT), chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. According to a statement issued by Mohammed Manga, Director of Information and Public Relations at the finance ministry, the meeting focused on evaluating the fiscal and macroeconomic risks emerging from global trade shifts. While Nigeria's top export, crude oil, has not been directly affected by the US tariff changes, the development coincides with falling global oil prices—raising fears of revenue shortfalls and growing budgetary pressure. Read also FG sets up sub-committee to evaluate impact of US tariffs on Nigeria's economy LCCI urges stronger Nigeria–India ties to boost key sectors and economic growth Finance minister urges Africa to strengthen trade within the continent amid rising global tariffs Nigeria's economy shows signs of steady recovery as March PMI hits 52.3 APPLY NOW: Digital Marketing Executive To inform government decisions with data, the EMT has mandated a sub-committee to carry out a detailed analysis of the potential direct and indirect effects of both the new tariff regime and commodity price fluctuations. The sub-committee comprises representatives from the Ministry of Finance, Ministry of Budget and Economic Planning (including the Budget Office of the Federation), and the Central Bank of Nigeria. The findings are expected to help shape policy responses aimed at cushioning any negative impacts on the Nigerian economy.

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